Directions: 1) Prepare journal entries for the below transactions 2) Post the journal entries to ledger accounts 3) Calculate the ending ledger balance Problem #1 Jan 1: Katy James, incorporated her small business by investing $100,000 cash in exchange for common stock. Date Accounts Debit Credit Cash Common Stock Problem #2 Feb 20: Tory Brooks, started a business by investing $65,000 cash in the business in exchange for common stock. Date Accounts Debit Credit